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Paradoxically, Merkel's life under communism may have helped when it came to starting a political career as the Iron Curtain began to crumble. She knew how to navigate around blockages and when to keep a low profile. Her rise to prominence went all but unnoticed, except by the rivals she deftly derailed along the way. Elected to the first parliament of the reunited Germany, she was appointed a Cabinet minister by Chancellor Helmut Kohl just one year later. He called her das Mädchen, "the girl." She was used to sexism. "There was no real equality...
...helped by an aggressive "short time" work program, its unemployment rate has steadily declined to 7.5%, compared with 10% in the U.S. No economy is free from the threat of backsliding yet, however, and the head of Germany's federal labor agency has predicted joblessness will rise again this year. But as world trade picks up, the mighty German export machine should click into gear once more, delivering decent growth. (See pictures of the dangers of printing money in Germany...
Mind you, the early part of the year is always a dumping ground for crappy movies. In January 2009 we had My Bloody Valentine, Underworld: Rise of the Lycans, Chandni Chowk to China and the implausibly popular Taken. Later this month we'll be treated to the spectacles of Jackie Chan as a babysitter in The Spy Next Door and Dwayne "The Rock" Johnson as a brutal hockey player who's forced to become The Tooth Fairy. But in February there's the new Martin Scorsese, plus a fine French thriller A Prophet and the sequel to the parkour classic...
...business loans in November, roughly the same as five months ago. And bank lending, now at $6.7 trillion, is at the same level it was at the end of 2007, when the economy was still expanding. That would be a problem if we had serious inflation. When asset prices rise and loan values don't, that can signal economic stagnation. But at a time when many asset prices are falling, it makes sense that loan volumes would be falling as well. After all, the collateral is worth less. (See pictures of TIME's Wall Street covers...
...which Obama agreed to remove from Europe last year, would force it to increase its nuclear capability. "There is a danger that our partners, by creating such an 'umbrella,' will feel completely secure and thus can allow themselves to do what they want, disrupting the balance, and aggressiveness will rise immediately," Putin said...